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Wells Fargo Adds $5.4M To Military Car Repo Settlement

Law360, New York (November 14, 2017, 7:20 PM EST) -- The Justice Department on Tuesday announced that it had secured an additional $5.4 million from Wells Fargo & Co. related to an Obama-era settlement with the bank over allegedly improper repossessions of service members’ cars.

San Francisco-based Wells Fargo originally agreed to pay $24 million in September 2016 to resolve claims that it violated the Servicemembers Civil Relief Act by illegally repossessing cars owned by members of the U.S. military. The bank reached the settlement with the Justice Department and the Office of the Comptroller of...
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